Strategies for the Current
Economy
We all know these are unsettled times. We see it not just in the
news, but in our clients as well. In a telling conversation with
a friend who is prominent New York lawyer, we heard how some of
his clients are currently holding off on filing for bankruptcy because
there is no funding available for the “debtor-in-possession”
financing which is essential to their moving forward.
While our clients are (thankfully) in better shape than his, we
wanted to offer some quick samples (and some insights) from our
current work.
- We are helping more than a few “go-getter” CEO’s
and business leaders temper their tendency to fight so hard against
the tide of logic that they hurt themselves with their teams and
direct reports. Some of them have been so intent on establishing
such unrealistic planning and growth targets that they have run
the risk of losing credibility. Their rationale, that this would
be the way to push the troops to be courageous, finally rang hollow.
We push them hard to realign their goals and recalibrate their
expectations, finding other ways to be both aspirational and
motivational.
- We try to ensure that people are focusing on their “keepers”
in the right way. Knowing where they stand-how they are feeling
about the seismic shifts-how the stress may be affecting them—those
are good things to know, and are not intrusive. Some of us shy
away from those kinds of conversations. But we miss a huge bet
in doing so.
The desire not to be intrusive can be all-too-easily read as
not caring. But there are tools and approaches that can be applied,
showing we care about the person without getting overly personal.
And while many of our clients have scaled back on lots of investments,
a majority continue to invest significantly in the development
of their highest potential people - through formal training,
targeted coaching, and stretch assignments.
- Keeping leaders away from the “happy talk.” No one
buys it, especially when times are tough. This is a time for truth,
and a time for trust.
If we can help you or your colleagues on those kinds of issues
please contact us.
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Rob Galford
